Prearranged trading

Prearranged trading

Prearranged Trading

The practice of two commoditydealerstrading with each other at prices upon which they have agreed in advance. Pre-arranged trading is designed to exclude other dealers from the market, to gain a tax advantage, or both. As a result, pre-arranged trading is illegal.

Kao, the company's co-founder, chairman and CEO, and two family trusts, of which he is a trustee, have each established pre-arranged trading plans to sell a portion of their shares in the company over a designated period.

Carr, its Chairman and Chief Executive Officer, adopted, prior to the commencement of the Company's regular quarterly trading blackout period for the first quarter of 2011, a pre-arranged trading plan in accordance with Rule 10b5-1 under the Securities Exchange Act of 1934 and the Company's policies with respect to sale of shares held by insiders.

Endres, chairman and chief executive officer, established a pre-arranged trading plan to sell a portion of his company stock over a designated period of time in accordance with Rule 10b5-1 of the Securities and Exchange Commission.

Kao, the company's co-founder, Chairman and CEO, and two family trusts of which he is a trustee have established pre-arranged trading plans to sell a portion of their shares in the company over a designated period.

Christine Schwartz, and certain family trusts, intend to establish pre-arranged trading plans under SEC Rule 10b5-1 of the Securities Exchange Act of 1934 under which they will sell up to 5 million shares of APAC stock over the next two years at prices above today's closing price.

As with the prior stock repurchase authorizations, InterDigital may purchase stock from time-to-time through open market purchase, pre-arranged trading agreements, or privately-negotiated transactions.

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